The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, concluded its participation in the IsDB Group Annual Meetings 2026 in Baku in Azerbaijanwith the signing of seven agreements, memoranda of understanding, and insurance policies valued at more than $1bn.
Saudi Arabia's 151-member Shura Council or Consultative Assembly has called on the Insurance Authority to study the challenges faced by the elderly in obtaining adequate insurance coverage. The call was made during a recent regular session of the Council.
Shareholders of Al Rajhi Takaful Company, one of the biggest insurers in Saudi Arabia, have approved an increase of the company's capital by 100% to SAR2bn ($533m). The approval was given at an extraordinary general meeting on 21 June.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, and the Arab Trade Financing Program (ATFP) have signed a Bank Master Policy under a Comprehensive Islamic Finance framework, strengthening their longstanding partnership to facilitate trade, enhance access to finance and support sustainable economic growth across member countries.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has shown strong business growth in 2025.
Saudi Reinsurance Company (Saudi Re) has announced the appointment of Ms Ruchi Jain as Principal Officer of Saudi Re's IIO-GIFT City, India Branch.
The Saudi Capital Market Authority has approved an application from The Company for Cooperative Insurance (Tawuniya) to increase its capital to SAR2.25bn ($599m) from SAR1.5bn, a 50% rise.
The first three months of this year represent an encouraging but narrowly concentrated step forward for the Saudi insurance industry, with a few standout exceptions, according to international actuarial and risk solutions company BADRI Management Consultancy.
Saudi Reinsurance Company (Saudi Re) has appointed Mr Turki Salman Alsudairy as Chairman of its board of directors for a four-year terms effective from May 2026, said a company disclosure filed with the Saudi Arabia Exchange (Tadawul).
Saudi Arabian Cooperative Insurance Company (SAICO) has appointed Mr Khalid Ali Ballow as Acting CEO, effective 21 May 2026, according to a bourse filing on the Saudi Stock Exchange (Tadawul).